Aether Industries IPO opens tomorrow: GMP, financials, review, other details
Premium- Aether Industries IPO GMP today is ₹21, say market observers
Aether Industries IPO (Initial Public Offering) is going to hit primary markets on 24th May 2022 and it will remain open for bidding till 26th May 2022. The chemical company aims to raise ₹808.04 crore from its public offer. Out of ₹808.04 crore, company aims to raise 627 crore through fresh issues whereas rest ₹181.04 crore is expected to come via offer for sale (OFS). According to market observers, shares of Aether Industries are available at a premium of ₹21.
Aether Industries IPO GMP today
As per the market observers, Aether Industries IPO grey market premium (GMP) today is ₹21 that means grey market is bullish on the public issue ahead of the issue opening date.
Aether Industries IPO date
The public issue will open for subscription on 24th May 2022 and it will remain open for subscription till 26th May 2022.
Aether Industries IPO price band
The chemical company has fixed price band of its public offer at ₹610 to ₹642 per share.
Aether Industries IPO review
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Speaking on Aether Industries IPO, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "As per the reported time in RHP, the company has posted sustained growth in both top and bottom line. The company had space to keep its price little lower but it chose otherwise. So, on valuation front, there is very little space left for the investors. Those who have medium to long term time horizon can subscribe the public issue once it opens."
On one should subscribe the public issue or not, Ravi Singhal, Vice Chairman at GCL Securities said, "The public issue is slightly price higher. However, fundamentals of the company is quite strong. Those who have long term perspective can subscribe the public issue."
Aether Industries IPO financials
In 9 months of FY22, Aether Industries has posted total revenue of ₹449.3 crore while its PAT stood at ₹82.9 crore in this period. In FY19, its total revenue stood at ₹203.2 crore while its PAT stood at ₹23.3 crore. Similarly in FY20, its total revenue/PAT stood at ₹303.7 crore / 39.9 crore whereas in FY21 its total revenue / PAT stood at ₹453.7 crore / ₹71.1 crore.
Aether Industries IPO objectives
The chemical company has made it clear that the money raised from its public issue will be used for debt repayment, funding capital expenditure and working capital requirements of the company and other general corporate requirements.
Other Aether Industries IPO details
- Aether Industries IPO lot size: A bidder will be able to apply in lots and one lot of the IPO will comprise 23 Aether Industries shares.
- Aether Industries IPO allotment date: The tentative date for share allotment of Aether Industries Limited is 31st May 2022.
- Aether Industries IPO listing: The public issue is proposed for listing on BSE and NSE and likely date of share listing is 3rd June 2022.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.